PUSHPAM COLLECTION: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
PUSHPAM COLLECTION
Largest movements
- Receivables within one year -€166,377
down €166,377 (-20.7%), from €802,965 to €636,588
of which Trade receivables: -€165,632
- Cash +€78,204
up €78,204 (+150.1%), from €52,096 to €130,300
mainly Receivables within one year (+€166,377) and Deferred charges and accrued income (+€22,218)
- Stocks and contracts +€24,510
up €24,510 (+57.0%), from €43,001 to €67,511
- Deferred charges and accrued income -€22,218
no longer reported in 2025 (was €22,218)
- Trade debts -€53,897
down €53,897 (-6.8%), from €788,823 to €734,926
- Profit (loss) carried forward -€20,464
new in 2025: -€20,464
- Tax, wage and social debts -€11,520
no longer reported in 2025 (was €11,520)
- Gross operating margin -€62,410
down €62,410, from €47,305 to -€15,105
- Taxes -€11,526
down €11,526 (-100.0%), from €11,528 to €2
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €920,280 | €834,399 | -€85,881 | -9.3% |
| Current assets | 29/58 | €920,280 | €834,399 | -€85,881 | -9.3% |
| Stocks and contracts in progress | 3 | €43,001 | €67,511 | +€24,510 | +57.0% |
| Stocks | 30/36 | €43,001 | €67,511 | +€24,510 | +57.0% |
| Amounts receivable within one year | 40/41 | €802,965 | €636,588 | -€166,377 | -20.7% |
| Trade receivables | 40 | €801,497 | €635,865 | -€165,632 | -20.7% |
| Other amounts receivable | 41 | €1,468 | €723 | -€745 | -50.7% |
| Cash at bank and in hand | 54/58 | €52,096 | €130,300 | +€78,204 | +150.1% |
| Deferred charges and accrued income | 490/1 | €22,218 | - | -€22,218 | |
| Total equity and liabilities | 10/49 | €920,280 | €834,399 | -€85,881 | -9.3% |
| Equity | 10/15 | €119,937 | €99,473 | -€20,464 | -17.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €101,337 | €101,337 | = | 0.0% |
| Distributable reserves | 133 | €101,337 | €101,337 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€20,464 | -€20,464 | |
| Amounts payable | 17/49 | €800,343 | €734,926 | -€65,417 | -8.2% |
| Amounts payable within one year | 42/48 | €800,343 | €734,926 | -€65,417 | -8.2% |
| Trade debts | 44 | €788,823 | €734,926 | -€53,897 | -6.8% |
| Suppliers | 440/4 | €788,823 | €734,926 | -€53,897 | -6.8% |
| Taxes, remuneration and social security | 45 | €11,520 | - | -€11,520 | |
| Taxes | 450/3 | €11,520 | - | -€11,520 | |
| Other operating charges | 640/8 | €1,371 | €1,406 | +€36 | +2.6% |
| Gross operating margin | 9900 | €47,305 | -€15,105 | -€62,410 | |
| Operating profit (loss) | 9901 | €45,934 | -€16,511 | -€62,446 | |
| Financial income | 75/76B | €36 | €9 | -€27 | -76.1% |
| Recurring financial income | 75 | €36 | €9 | -€27 | -76.1% |
| Financial charges | 65/66B | €3,736 | €3,959 | +€223 | +6.0% |
| Recurring financial charges | 65 | €3,736 | €3,959 | +€223 | +6.0% |
| Profit (loss) for the period before taxes | 9903 | €42,234 | -€20,462 | -€62,696 | |
| Income taxes | 67/77 | €11,528 | €2 | -€11,526 | -100.0% |
| Profit (loss) for the period | 9904 | €30,706 | -€20,464 | -€51,170 | |
| Profit (loss) for the period to be appropriated | 9905 | €30,706 | -€20,464 | -€51,170 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.